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>>> welcome to nhk world "newsline." >>> barack obama has some unfinished business. the u.s. president says the hard work of millions of americans has not been rewarded and he says it's time to reunite the engine of economic growth. he promised to work on behalf of the middle class in his state of the union address. >> it is our unfinished task to restore the basic bargain that built this country, the idea that if you work hard and meet your responsibilities, you can get ahead, no matter where you come from, no matter what you look like or who you love. >> obama made the address before a joint session of congress. he said his first priority is making the country a magnet for new jobs in manufacturing. he said some of those jobs could come through investment and clean energy. he said the extreme weather americans have seen should remind them they need to do more to combat climate change. obama said america will remain the anchor of strong alliances around the world, as he outlined threats from abroad. he criticized north korean leaders a day after they carried out another nuc
. >>> fueled by a weaker yen and strong sales of cameras in the u.s. >>> and shares in virgin media rally after an offer for a takeover that could value the uk cable operator at $20 billion. >> all right. welcome to tuesday. >> it's get together tuesday. coordinated, as well. >> the final print for the eurozone is finally come in, 48.6, a little better than the forecast of 48.2. >> may i just say, though, the employment index, look at that, 46.1, which is just barely better than the flash estimate but still the lowest since december 2009. on a downward trajectory. it's not germany where the final composite was 54.4. it's the periphery still. france's final january pmi falls to 46.1. >> france is where the concern is. we have francois hollande today speaking to the eu parliament. he's going to lay out his vision for the eu against that economic back drop. >> isn't it amazing? we come into the week yesterday with everyone still talking. you have that great barons cover, you come in, just get the risk trade massively off. and the question for today and the rest of the week is frankly whether that'
. >> and is steady as she goes, the u.s. economy is expected to keep up the recent trend of modesty of unspectacular job growth in january. >>> plus, the dutch finance minister warns of a worsening deficit this year, this after the government is forced to bail out local banks after a bailout of 3.7 million euros. >>> we kick off with the pmis out of the eurozone. january manufacturing pmi, 47.9. the flash 47.5, december manufacturing pmi was 46.1. it has boosted the euro to maintain its gaze, now back over to 1.3651 and continuing to climb high. that is now a 32-month high against the yen, as well, at 11.25965. the german manufacturing pmi was a little better, as well, this morning. helping to boost those numbers. we suggest that there's benefits from emerging markets rather than, perhaps, from elsewhere in europe. anyway, coming in better once again for the eurozone. still in contraction territory, but, of course, the trend is what is being concentrated on. we had similar indicators for two die verging views on china's recovery. eases to 50.4 for january, that was below the forecast of 5079 the. bu
joins us again this morning. steve, we actually finally start the meetings today. we've had comments out from the russian finance minister, as well. what's he saying? >> well, he's trying to get us back on track on to a growth agenda, which when you look back at what the agenda was a couple of meetings ago back in toronto in 2010, that was sorely missing. that was about harboring deficits and having firm targets. it hasn't really worked, has it? what they've said is our growth estimates were slightly optimistic. listening to what some of the policymakers are saying this time around, the likes of mario draghi, i'm scratching my head a little bit. there's some uncontentious stuff. i can live with that. range of financial market indicators showing situation normalizing. but what about this bit? currency chatter is inappropriate, fruitless and self-defeating. hang on a second, mr. draghi. it wasn't us, the journalists that started this. it was policymakers. it was the g- 7. it's incestble we're going to start rumbling about this. i can't help but thinking mr. draghi is missing the point here
of the pond is the snowstorm. it seems like winds, 50 miles per hour. blizzard conditions in the u.s. we know when there's a storm like that headed for the biggest media market frankly in the world, it's probably all you're going to hear about for a while. >> that doesn't mean there aren't other things, too the. >> that's true, in other parts of the world. >> china is ushering in the year of the snake. i'm not sure what that means, but we'll talk about it. should investors brace for a slippery return? i have to say, previous years of the snakes haven't been that great since the big historical events happen. >> maybe we should call it year of the strong. >>> peugeot reveals massive write-downs as reports suggest the company may nationalize. we'll have details live tr paris at 10:10 cet. sxwt latest on the blizzard threatening to bring chaos to the east coast. we'll have the latest from atlanta. >> and are investments as pretty as a picture or a still life? ross, there's been a couple of big auctions here lately and it's always a good gauge of how well people are doing, how hard assets, real pr
is cleared for takeoff. reports say the boards at amr and us airways sign off on their $11 billion deal to create the world's biggest airline. >> announcer: you're watching "worldwide exchange," bringing you business news from around the world. >> all right. you're wearing an appropriate valentine's day shirt. >> i am. i tried. there's a little bit of pink if we look at your tie very closely. if you want to know what's happening in the markets today, hold on, ubs, the valentine's day gdp's massacre. >> yes. >> because if you look at when it's japan shrinking at an annualized rate, germany coming in on quarter on quarter, france coming in -- well, we know they had a recession earlier in the year, as well. minus 0.9% on the quarter been minus 2.7 on the year. >> oh, that's brutal. >> it's the sixth consecutive contraction and that match tess recession of 1992 to 1993. the minus 0.9, it was forecast at minus 0.6 is the slash gdp. >> and italy has been down 2.7% on the year, but this is something in the range of almost a 4% annualized drop until the year from a year earlier. >> the massacre
-off. u.s. markets fell yesterday following the release of the fed minutes. it was the worst day of the year for the s&p and nasdaq. as you can see, shedding 108 points there, a rare triple digit decline this year. energy and material stocks were the worst hit. all ten s&p sectors did hit the day lower. volatility on the rise. the vix rose nearly 20% on this session. the sell-off has continued overnight. the shanghai composite, the australian markets taking it on the chin. will i sixuan joins us from singapore. >> thank you, kelly. fears of an early access by the fed rocks sentiment here in asia today. the nikkei pulls back 1.4% from its 52-month high. investors remain cautious ahead of the decision on the next boj chief. construction equipmentmakers were down after caterpillar reported slowing sales for the quarter ending january. but batterymaker gsyuasa reported a fix over long-term battery problems. the shanghai composite tumbled to 3% today. commodity place were under a lot of pressure today after the u.s. fomc minutes raised the possibility of a qe asset. development and ce
's will close its structured capital markets business and focus on investing in britain, u.s. and africa. they also posted earnings for 2012, down 6 million pounds versus 5 million last year due to a reduction in the value of the bank's debt along with situation payments for the selling of financial products. barclay's rate dividend to 6.5 shares for 2013 is off to a fairly roam start. joining us first is oliver ralph, financial times lex writer. oliver, thank you so much, indeed, for joining us. what do you make for what you've heard from anthony jenkins this morning? they're obviously trying to say it's going to take time, we're trying to restore our reputation. is it the right thing? >> yeah, it is the right thing. they've launched the business. the core of the bank remains the same. london investment bank and new york investment bank. the core of the bank remains the same. they're making changes around the area and the core of it is as it was. >> talk about the investment bank in particular. this has been the place where not just barclay's, but a lot of the competitors, too, try and
line. >>> the u.s. filed a civil lawsuit against standard & poor's over alleged wrongdoing that fueled a financial crisis. >>> john kerry arrived for work at the state department. kerry was sworn in as secretary on friday. >> as the saying goes i have big heels to fill. >>> a massive fire at a lumberyard in west baltimore. firefighters were hurt when the blog collapsed. >>> dare devil alain robeir and the list of the tall buildings he's climbed. >> 99.99% of america are gun owners. would you leave us the hell alone. >> why aren't you a republican? >> how do you know i'm not? >> because obama appointed you. >> i've made jokes about you but -- >> and all that the mares. >> the public records indicate superdome officials were worried about a possible blackout months before the super bowl. >> on "cbs this morning." zbles that he how hard the city of new orleans parties, even their football stadiums blackout. captioning funded by cbs >>> welcome to "cbs this morning." we are learning new details about the end of an alabama hostage drama. fbi agents raided an
. >> translator: using this so-called radar, weapons radar, is an extraordinary act. the japanese government believes that the situation could have gotten extremely dangerous. >> >> he says they laj aid protest with chi noose ministry. he revealed it happened on january 30th in international waters. he says the vessels were about three kilometers apart. he says defense ministry analysts are investigating a separate incident from earlier in january. they suspect a chinese navy frigget trained its weapons on a self-defense helicopter. japan and china have wenlocked in a dispute over the senkaku islands. china and taiwan claim the territory. the japanese government nationalized the islands last september. chinese surveillance ships have been navigating in and around or out of japanese waters near the territory ever since. the area around the islands is believed to be rich in natural resources. the disagreement has affected diplomatic relations and trade. >>> security analysts are trying to figure out the consequences of what happened out at sea. a former navy capital tin with japan's self-defen
from her later in the show. >>> and taking the positive u.s. housing numbers from the nhab numbers. we'll be in new york with analysis at 11:45 cet. >> the italian election race is heating up. there is less than a week before voters head to the polls. comedian turns politician beppe grillo, in fact, is owes closing in on sylvia berlusconi for second place. official polls can no longer be published. the private polls seen by reuter s suggest mario monti may, in fact b with be something of a spoiler. >> and the election largely coming down to five key candidates. the front-runner is bersani. he's the leader of the center left pd party, calling for growth measures alongside monte's plan. sylvia berlusconi is threatening to make a political comeback despite corruption scandals. we've mentioned the comedian beppe grillo. at the same time, the former caretaker mario monti, he's been struggling to gain ground in his first ever political campaign. and then last, not necessarily least, there's the civil revolution leader and former public prosecutor antonio ingrola. >> only in italian politics.
. and that is why it is so important for us to do the report that we did. i will give you a perfect example. you have loan officers at banks being paid bonuses and pay based on how many loans they created. not whether those were good loans. not taking into account whether the loans would later default and caused sick of it and losses. there were a number of different causes of the financial crisis. we tried to bring a lot of transparency to it, to report on that. we are also doing a lot of work in this area to say what has not been dealt with. you are exactly right, fannie and freddie is not dealt with under dodd-frank. but let's talk about dodd-frank for a moment. there have been reforms to our financial system, but there needs to be significantly more. one thing about dodd-frank is it sets up a framework. but ultimately not all of the rules are implemented. there are very important standards that need to be set by the regulators and treasury. because what we are worried about is trying to protect americans in the event of another financial crisis. we do not want to be in a situation where one
minister here. this is an exciting time for us. we know of his leadership through the years and we are really delighted to have him here. we are excited that he can be with us today. i would especially like to say words of thanks for our colleagues. we are delighted to have you here, a senior advisor to the prime minister is here. the deputy chief and cabinet secretary. the ambassador is here, one of my bosses. i have to recognize him. a great service for america and japan, we are delighted to have you here. and the governor from alaska, he is our closest state to japan and has the keenest interest in japan. it is wonderful to have you here, governor. there is a new word in washington, the new economics that prime minister abe is bringing to japan. we have to get ourselves started again and i think that is exactly what he is doing in japan. i would like to take a second, talk about the foreign-policy agenda. japan's foreign policy going forward to protect freedom of thought, expression, and speech in the asia-pacific. can you think of anything more important than that? this will he
meeting. they're due out later this afternoon in the u.s. will the fomc offer clues on an end to qe3? we're joined at 11:30 to weigh in. >>> with india's government clouded in corruption allegations, we'll speak to one of the country's wealthiest individuals and what it means for business. billionaire udai kotak joins us in 20 minutes' time. >>> plenty coming up including sony which is heading to the bill apple for a major on, national endowment. will the game console giant take the wraps off its rumored playstation? expert analysis at 11:20 cet. >>> and bhb bulletin has posted a steep fall in earnings for the first time in the year. the australian mining giant announced change at the top after the 43% drop in profit. we have more on this report from sydney. >> reporter: the surprise at bhp, billiton's ceo mariu marius kloppers announcement coming earlier than expected. >> coincided today with a weaker pricing environment. but two totally unrelated events. >> reporter: he will be replaced by andrew mckenzie, current head of bhp's middles division. he's well regarded in the industry and s
china, the u.s., now canada, even leaders doesn't permit us to monitor. doesn't permit us to report to international body. doesn't permit an international body to tell us what to do with emission. sovereignty has become the obstacle to cooperation and increasely made states look more and more dysfunctional. how is that the most powerful, well equipped military nation in the world has ever seen the united states of america can't bring a handful of terrorists to heal in benghazi or mali, or afghanistan. the asymmetry between a massive military based on big ships, planes, and bombs and the reality of every day -- cross borders that a symmetry means that the war machine, the war machine of the greatest state there ever was is largelier relevant to the security threats we face. as we learn on 9/11 when in this city, a handful of hijackers living in the united states for years hijacked our planes and turned them to weapons. they didn't have to be given weapons by anyone. they seize them and use them and created devastation here. that, again, is a sign of this new asymmetry. and you find i
markets, as well. this is where we stand in the u.s. spanish yields higher, 5.31%. interestingly enough, we look ahead to mr. person unanimousky to give treasuries. gilt yield 2.018% is where we stand at the moment. giving support because of the risk off caused by those italian elections. euro/dollar, that's been down to 1.3039. that's the seven-week low, january 10th we hit that. dollar/yen, what a wild day yesterday for dollar/yep. we hit a 33-month high for dollar against the yen, 94.77. then we fell down to 90.85 at the moment. 91.94. aussie/dollar still weak. sterling/dollar, we're spinninged in at this low, 1.5166. selling has bounced back as you might expect against the euro. the italian election yesterday caused gold to spike up to around 1600. just below it at the moment at 1598. brent continues to weaken below 114 and nymex a little weaker at 92.32. that's where we stand in reaction to the after markets here to the italian elections. let's get more reaction on the asian markets with sixuan. >> thank you, ross. asian markets fell sd as the political stalemate in italy was felt
uses his state of the union speech to urge congress to end the battle over the budget and work together to boost the u.s. economy and help the middle class. >> together we have cleared away the rubble of crisis. we can say with renewed confidence that the state of our union is strong. >>> there we go. >> who doesn't love to kick off a wednesday morning with the iea monthly oil report? >> they have lowered their oil demand growth expectations on weaker gdp forecasts. demand growth, 840,000 barrels a day in 2013. they've cut the forecast for opec crude to 29.8 million barrels a day. they say oil supply will hit a 12-month low in january. >> can we show crude and look at the reaction there? we'll take a look in one second. what else are they saying in this report? >> they say the non-opec supply will be rising. opec supply will be falling. non-opec supply is rising, one million barrels a day this year. then they talk about iran oil production hovering below the lowest in 30 years. new sanctions could see further declines in iranian output. they say the sanctions are costing around $40 bill
street or for the u.s. a main street brand. but they have this great digital fashion thing going on. it's a gimmicky partnership with google. you see these reports about google getting the lines between fashion and retail and tech are all blurring. >> they are, indeed. so on today's show, there's a -- here is another taster. in china, it's the first trading day market in the new year of the snake. so will it be new year old problems? up next from hong kong, we'll have the latest analysis. >> did you just slither? also, the final week of campaigning in italy ahead of the general elections. we will be live in milan throughout the morning for a roundup of the candidates policies and pit falls. julia will join us for that. >>> and hear state from the finance ministers. we have a roundup of the g-20 meeting in moscow. >> and london fashion week is under way and international expansion seems to be the latest trend. we'll hear from top designers who are putting their foot forward on the global runway. >>> first, standard & poors says it wants more time to gauge shinzo abe's rating policies. s&
will join us with the latest from power outages to grounded flights. then, of course, there is the topics of the markets. earnings season is winding down. only 53 s&p 500 companies set to report. one event to watch, janet yellen is scheduled to speak on the economy today and our guest host this hour will be the former managing director at pimco. he's currently the share of global societies of fellows. and also we have rebecca patterson. we've got a lot to did you discuss with them. before we do that, we're going to head over to michelle who has the morning headlines. >> thank you for that, andrew. usair and nmr are set to meet. boeing completed what it called a, quote, uneventful test flight of the 787 dream liner on saturday. it was the company's first test since the airlines were grounded more than three weeks ago. >>> carnival cruise ship in the gulf of mexico will need to be towed to port. carnival's triumph, as it was called, was heading back to galveston, texas, when the fire occurred. the ship's extinguishing system kicked in, no injuries were reported. >>> let's get over to ross w
here and joining us. as you said, it is a good day to here be here. we've been watching the u.s. equity futures because of all the actions yesterday. this morning, you did see a few green arrows, but no massive move at this point. the magic number is 14,164.53. that is the record closing high for the dow. it was reached back on october of 2007. the bulls -- a number of catalysts for monday's sharp sell down. some are calling this the bernanke bounce. the stocks soared after the two-day testimony on capitol hill. >> the evidence thus far is that the housing market is hit the bottom and is recovering. we've seen rising prices over the last year or so. we're seeing some significant increases in starts. and sales. foreclosures are still too high, but they're coming down. the number of people under water on their mortgages is coming down. so we're still far from where we would like to be. but the evidence is that the housing market is strengthening and that low mortgage rates are one reason for that strengthening. >> although a long period of low rates could encourage successful risk taking
viewers? >> you want to use the volatility to find the companies strong free cash flow. like the auto stocks, toyota, emerging markets have been relative underperformers year to nate. buy dong fang motor, make 3 million cars in china every year, a company you can own to play the catch up trade in the emerging markets. >> howard? >> i agree with what sarah said. apple has couldn't come up 4.7 times ebidta. apple is extremely cheap, the stock will be at $600 the next 18 months. buy it again. >> go back to 600. >> you care about all the proposition 2? >> yeah. >> i don't think it's critical >> i think it is a bit of a nuisance. this is a company that's made more money for shareholders in the last few years than the entire rest of the technology industry combined. give them a break. they didn't even have a dividend 12 months ago. >> right or wrong? >> i don't know if he's right or wrong. i think you have to give management a little bit more time. i think that we are going a little too hasty pushing them h i think they will do the right thing, return more cash to shareholders. no question
a full size sheet of the leading ordinary brand. use less. with the small but powerful picker upper, bounty select-a-size. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. >>> john tower, why are people awake today? >> we backing you up team sprinkles. i may live in boston, but i'm in south jersey, they are sprinkles. >> the interesting part is when i go to cape cod, i do call them jimmys because i don't want anyone to know that i'm a new yorker. i wear my yankee hat, i may get thrown out. great show, everyone. "morning joe" coming up right now. >>> good morning. it is thursday, february 14th. willie, happy president's day. >> happy president's day. a long weekend. >> is it president's day? >> va
. >> is it president's day? >> valentine's day. >> oh, is it really? all right. well, with us on set to celebrate this blessed occasion, msnbc contributor and central park's stalker, on valentine's day or any day, mike barnicle. >> it's getting warm enough. >> it is getting warm up. the problem is he's got the reflector shades on, and they steam up. when it's this cold outside, they steam up and he can't. >> it's hard. >> when it's cold, it's easier because i can wear the scarf across the lower. >> that's just gross. >> ski mask. >> ski mask. whoo! you see his picture in a lot of 7-elev 7-elevens. also, steve rattner. in washington, director, president and ceo of the woodrow wilson international center for scholars, jane harman. jane, thank you so much for being with us today. >> thank you, joe. >> greatly appreciate it. happy valentine's day. >> happy valentine's day. >> willie, i'm so glad jane's here -- by the way, mika's in the south of france. we're going to be talking about obviously leon panetta. boy, a blistering attack against congress. can't wait to talk to jane about that. also, john m
, yesterday, we are all sinners, but his grace transforms us and makes us new. what does 'do you make of that? >> it's going to be a new thing for him. we have not had a pope resign in 600 years. what he'll do is unknown. maybe he was talking about his personal life. >> can i ask about the elephant in the room which is you know the catholic church has grappled with the series of sexual abuse scandals. they cost the church $2 billion in settlements. does this have anything do with that? >> oh, i think everything has something do with that. to shoulder this job is grave responsibility which the pope has taken seriously as was said by allen pizzey. i think it's a tiresome job. i think he's exhausted. i think the scandal has been a tremendous burden both morally and financially for the catholic church. >> there's also this. is it possible they'll look to a younger pope because of this? >> yes. anything is possible. he was elected at a fairly advanced age. people thought it would be a short paypalcy. i thought it would be ten years. it's close. when you choose a younger pope, it's a lifetime appoi
pages, this reveals when the united states can use lethal force against an american linked to al qaeda. talked to critics, they say the scariest aspect of the 16-page memo is its lack of detail. for some time, a number of lawmakers have been calling for the release of material detailing what guidance the president uses to call for a drone strike. the most high profile incident is the death of anwar al awlaki and al qaeda leader and american killed in a drone strike in yemen, in 2010. his father is suing multiple u.s. officials for the death of his son, and his grandson, abdul rahman, killed in a separate drone attack. >> i don't necessarily agree with what some of the things he said. but does that men they should kill him outside the law. >> as painful as it was to see your son killed, did you in the back of your mind expect that to happen? >> in anwar it was expected because he was under target killing. but how they go and kill abdul rahman, small boy, u.s. citizen from denver, colorado. >> no doubt, this leaked paper from the department of justice will come into play during the thurs
we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. all the things we love about sunday meals into each of her pot pies. like tender white meat chicken and vegetables in a golden flaky crust that's made from scratch. marie callender's pot pies. it's time to savor. >>> the campaign of 2012 led to the election of 2012 which led to the campaign of 2013. it's tuesday, february 26th, and this is "now." >> executive vice president of the global strategy group and former senior advisor of priorities usa action the money bunny himself, bill burton. we are mefr not going to call you the money bunny. foremaner pennsylvania governor and current governor of "now" ed rendell, assistant managing editor and fortune magazine lee gallagher, who is just classing it up. she just doesn't need weird nicknames. the man with the golden throat, political analyst and
just joined us from the city, and he is setting up. we welcome you, doug. dougie is all over the world. as such, he has lived quite a bit of time in japan himself. it's great to be with you tonight as well, doug. let's see. in terms of this whole notion of the book, by the way, a very modest title, banker to the world. when i heard of this, and i am a very close, personal friend of bill's, like everyone in this room is. and so when he was talking to me about this concept of what he wanted to write about to lessons of debt crises and all of this, i just knew that it was right in our sweet spot, what we needed to the will to do. so we were able to convince them. so no i'm not talking to you about this -- talking to you as his friend but his publisher. we had this decision. we were going to do this book, and we did. the ink was that even dry when henry kissinger came out and said, this is a must-read for anybody in any section at any level of the finance industry. no sooner did he do that than paul volcker came out and what to make a comment about how this is a must read. it is a must rea
two months ago, let us take a whirl in the not so way back machine. >> real revenue growth is critically important as long as real cuts in spending if we're going to solve our long-term fiscal problem. i made it clear to the president that i would put a trillion dollars worth of revenue on the table if he were willing to put a trillion dollars worth of spending reductions on the table. we have to find a way to address this significant spending problem that we have and we need to find a way through tax reform to begin to grow our economy in a way that will create more jobs in our country. >> bipartisan stump and invoking the speaker of the house still isn't enough to buy the president any ground among republicans. as jake sherman writes in "politico" jump-start negotiations with obama and beaner have been slammed for engaging in secret talks with the president whose party doesn't trust. raise taxes and boehner is courting trouble in his conference and endangering his speakership. both are simply nonstarters. the "new york times" argues that tough love is the only way to go.
line. >> the u.s. filed a civil lawsuit against s&p 500 over alleged wrongdoing that fueled the financial crisis. >> after 28 years on capitol hill, john kerry arrived for work at the state department. kerry was sworn in as secretary on friday. >> as the saying goes, i have big heels to fill. >> a massive fire at a lumberyard. firefighters were hurt. >> the daredevil and list of tall buildings he's climbed -- >> all that -- >> 99.99% of gunners in america are wonderful people. would you leave us the [ bleep ] alone? >> why aren't you a republican? >> how do you know i'm not? >> because obama appointed you. [ applause ] >> i made jokes about you, but -- [ laughter ] >> and all that matters -- >> the public records indicate superdome officials were worry good a possible blackout months before the super bowl. >> on "cbs this morning." >> the heart of the new orleans' party, even the football stadiums black out. >>> welcome to "cbs this morning." we are learning new details about the end of an alabama hostage drama. fbi agents raided an underground bunker yesterday, shooting and
by colleagues is with me, doug peterson, who just joined us from citi, and he is heading up standard & poor's ratings, and we welcome you, doug. and doug has lived with citi all over the world and as such as lived quite a bit of time in japan itself. so it's great to be with you tonight as well, doug. let's see, in terms of this whole notion of the book, you know, by the way, it's a very modest title, banker to the world. [laughter] you know, when i heard of this -- and i'm a very close personal friend of bill's, like everybody in this room is, and so when testifies talking to me about this -- when he was talking to me about this concept of what he wanted to write about, lessons of debt cry cease and all of this, i just knew that it was right in our sweet spot in what we needed to be able to do. so we were able to convince him, and so now i'm not talking to you as his friend, i'm talking to you as his publisher. [laughter] and we had this decision, you know, we were going to do this book, and we kid. and we did. now, the ink wasn't even dry on this book when henry kissinger came out and sai
billion u.s., ten trillion yen, 2.2% of gdp. a lot of that would go to infrastructure, a lot to the north to the earthquake area, but, of course, we've seen 14 such packages since the late 1990s. and this one has to be different. and also he's pressing the bank of japan. last time i was here was to introduce governor shirakawa several years ago who i think is a very good governor of one of the major central banks in the world, pressing him to put in more monetary stimulus which i think is necessary. but i, one of the points that was made right in this room several years ago by governor shirakawa, and i've been with him three times in the last two months, is, you know, monetary and fiscal stimulus aren't enough n. the case of japan, you need major deregulation. i think major structural reforms, deregulation in the service area. so, hopefully, that'll all flow into the package of the new prime minister. certainly, a tough job -- it's a tough job, but this is the world's third largest economy, and if we don't get japan moving with some of the other problems with europe, etc., i think the wor
is going to get us out of this situation? in the end it's going to be the young people and nowadays there are no opportunities anywhere. so this is going to end in blood. >> let's move on. >> asking you how good your mandarin is? but if you want to compete in the local economy you may want to brush up in one of the biggest economies. the u.k.'s next generation may not be able to compete on the global stage because there's not enough schools teaching mandarin chinese. the british council found only 3% of primary and 9% of secondary schools say their schools offer mandarin and china becoming the world's second biggest economy in 2011. so why should we learn this language? some say you are guaranteed a job if you learn it. >> it's what the chinese call chinese rice bowl. if you learn mandarin, you're made for life. i can think of two or three lads i've interviewed in schools in london were literally the age of 17 fighting off u.k. customers. three or four or five fighting off job offers. 150,000 with french and 200 ,000-plus with mandarin. >> you probably can't see these from where you
week on rumors apple is developing a wearable computer. u.s. search engine giant has been developing a computer that looks like a pair of eye glasses. competition in the emerging field of wearable computers is expected to further intensify. >>> all right. that's going to do it for biz this week. let's get a check of the markets. >>> people in southern new zealand are looking back on the day. an earthquake destroyed their homes and killed their loved ones. the magnitude 6.3 tremor hit the city of christchurch two years ago. nearly 200 people died including a number of foreign students. nhk world joins us on how the city is remembering and rebuilding. ♪ >> reporter: families of the victims and citizens expressed condolences. new zealand's prime minister john key spoke at the ceremony. >> as we remember the destructive and terrifying earthquake that struck this city and the surrounding area two years ago today. >> reporter: the quake killed 185 people. nearly two-thirds of them were in this building in the city center. it used to house an english language school. it was damaged far mo
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